Successful CEOs believe a vision should be rooted in an organization's principles but accommodate changes in the company and its markets, write Stanislav Shekshnia, Kirill Kravchenko and Elin Williams. CEOs should take every opportunity to express this vision and use it as a benchmark for rewarding employees and making decisions.
Electrical distributors can steer customers away from Amazon by investing in branding and brand awareness and offering self-service tools, according to DigitalBranch co-founder Justin King. "The first place they should think about going online is to 'electrical distributor ABC that sells this particular product or service,' versus thinking, 'I'm not sure where I can get this item, so I'll just go look for it on Google or Amazon,' " King said.
Sobeys parent company Empire reported $58.1 million in earnings in its fiscal third quarter, up from $30.5 million in the same period the year before. The company's online grocery business will come online in spring 2020 through a partnership with Ocado.
SUPERVALU will sell 21 of its 38 Farm Fresh Food & Pharmacy locations in separate deals valued at a cumulative $43 million to Harris Teeter, Food Lion and Kroger. SUPERVALU is considering selling the remaining locations.
Shippers and freight haulers are embracing new auditing and invoicing tools to reduce the risk of errors and to accelerate the shipping payment process. Software firm Haven created an automated system that identifies mistakes between freight quotes and invoices, saving companies such as South32 and Rothfos time and money on contracts.
A cyberattack on a petrochemical facility in August could have caused an explosion had it been properly executed, raising concern for the safety of industrial facilities in the US and elsewhere. "If attackers developed a technique against Schneider equipment in Saudi Arabia, they could very well deploy the same technique here in the United States," said James Lewis of the Center for Strategic and International Studies.
Brewer Science CEO Terry Brewer isn't directly involved in the manufacturing process anymore but stays informed by checking in and communicating. "People don't realize that in a 10- or 15-minute walkaround I can be up to date, and I can really know everything that is going on," Brewer says.
Applying the same project delivery process to all projects regardless of their size or specifications is a waste of resources, writes Ivan Crespo of Pathfinder. Instead, adjust to each project's specific needs, making it easy for operators to omit or scale down certain steps, such as contingency planning or the level of detail needed.
Trust and communication can be obstacles to a truly beneficial relationship between manufacturers and original equipment manufacturers, as Bumble Bee Seafoods discovered while upgrading a facility in California. Improving communication and visibility for OEMs without compromising security is the key challenge, says Jan Tharp, Bumble Bee's chief operating officer.
Connectivity in industrial settings is a cost-effective endeavor, says David Iyoha of Fortech, and offers advantages in terms of data and decision-making without needing to become an IT firm. "Activities such as simulation, augmented reality, or configurations can be sent off for heavy calculations and then returned with the answers," he says.
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